Are you a property developer or owner? Keeping up with your property's day to day management demands like handling tenants and other parties, creating budgets, handling maintenance and repair arrangements, settling disputes, issuing notices, handling insurance claims, keeping, updating, and maintaining records, keeping up to date with insurance, etc., can be time-consuming and overwhelming. Therefore, you can benefit a lot from seeking strata management services to handle all these for you.
However, knowing what to expect and how to get the fullest advantage of strata management services can go a long way in helping you have a hassle-free experience. This piece looks into some of the key details of strata management services.
Onboard Strata Managers Early
Many property developers wait until project completion to bring strata managers on board. However, introducing a strata manager early to your project will pay off in many ways. While it may seem costly to involve a strata manager from the start to the end of your project, they can offer their expertise in critical areas like certifications, insurance, legislation (including formulation of by-laws), building codes, and other critical aspects that would otherwise be costly down the line.
Know Your Needs
Understanding your needs for strata management also goes a long way in ensuring you get the most out of it. For instance, an old building will likely call for more maintenance demands and frequent repairs. Therefore, you will need to narrow your search to strata managers with extensive knowledge, expertise, and experience in property maintenance and repairs. Therefore, evaluate your needs first and choose strata management services tailored to those needs.
Understand Your Property Type
Knowing your property type is also helpful, particularly when selecting a strata manager. Do you have townhouses, tall buildings with several apartments or several individual units? Generally, most strata managers have experience in a range of properties. However, some of them specialise in specific properties. Therefore, since every property has unique management requirements, it would help to work with a strata manager with expertise in your specific project type. That way, you can be assured of the best strata management service.
Establish Clear Terms Of Agreement Early
Agreement terms between you and your strata manager need to be as transparent as possible, so everyone understands their expectations. Doing this eliminates any hindrances to the smooth running of your property down the line. Your agreement terms may include, among other things, the service levels, costs and fees.
For more information on strata management, contact a professional near you.
